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Dole will use proceed company divestment for debt reduction
Chicago, March 13 – Dole plc will use the $120.25 million of cash proceeds from a divestment that recently closed primarily to repay debt, according to a press release.
Dole closed on the sale of a 65% equity take in Progressive Produce LLC to PTF Holdings, LLC, the parent company of Pacific Trellis Fruit, LLC.
The transaction was announced Feb. 27 and closed, as expected, in March.
Dole is a Dublin-based fresh produce company.
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